Binatex review and test – Scam or not?
You want to open an account Binatex and you are searching for a trusted review and test of the trading platform? – Then you are completely right on this page. As experienced traders, we tested this platform in detail and give you in the next section accurate information about the broker. Should you invest your money there or not? – Find out in our review for traders.
Introduction of Binatex
Binatex is an international broker for Binary Options. The company was founded in 2015 and accepts traders from everywhere. The main customers of Binatex are from Europe because the company is based in Cyprus. The Binatex Website is managed by the Binatexia LTD and the Yulanta business Ltd. On the website, we find the registration number of the company and the legal documents.
The focus of Binatex is to create a perfect trading platform for Binary Options. On the Internet, there is a lot of scam around Binary Options and Binatex tries to change it with reliable software. In addition, the broker is a sponsor of the UFC fighter Alexander Volkov. The company is gaining more and more popularity. You can start trading with a free demo account or a small minimum deposit of $10.
Information about the Company:
- Founded in 2015
- Based in more than 3 countries (Cyprus, Europe, Seychelles)
- Multi-awarded platform
- Sponsor of the UFC fighter Alexander Volkov
- Popular platform in Europe
- The company tries to build the perfect trading platform
Trading on the Binatex platform explained:
In this section, we will give you a deeper look into the trading conditions for traders. When it comes to Binary Options trading there should be good software and a reliable broker as a partner when you want to trade successfully in the long run. Binatex offers a trading platform for desktop and mobile devices. You can trade Binary Options on different markets by selectable expiry time.
In the picture below you see a screenshot of the trading platform:
Binary Options is a risky financial product for investing in rising or falling prices. Traders can gain a fixed return of up to 90% with Binatex. There are only 2 options. You can win the fixed return or lose your investment amount. So you have to do the right forecast of the price movement. By trading Binary Options you will get an entry point (strike price) for your order. After a certain time horizon (expiry time) the price has to be above or under your strike level in order to win the fixed return.
Summary of the trading instrument Binary Options:
- Invest in rising or falling markets
- Get an entry point (strike price)
- Limited profit and loss
- Expiry time from 60 seconds up to 24 hours
- Maximum return of investment 90%
Trading instruments and conditions
With Binatex you can trade forex, commodities, and stocks. There is a limited asset variety compared to other brokers but in our opinion, you should feel comfortable with it. There is a range from major and exotic currency pairs. The return of investment (yield) is between 70% and 90%. It is depending on the asset and market situation (time).
Overall, there are on average more than 3.000 online traders on the platform at the same time. Traders can start with a free $10.000 demo account or a small minimum deposit of only $10. With Binatex everyone can participate in the financial markets. Moreover, the minimum trade amount is $1.
There are no hidden fees by trading Binary Options. You will not pay any commissions whether by trading or by depositing or withdrawing money on the platform. For depositing money you can activate a free 100% deposit bonus on the platform. This gives you additional money. From our experience, Binatex offers competitive trading conditions because of the stable return of investment and fast order execution on the platform. In the next section, we will show you how to trade.
Trading tutorial: How to trade with Binatex
It is not difficult to learn to trade with the Binatex platform. All you need to know is how the financial product is working correctly. First of all, you have to do an analysis of the market. There are a lot of trading strategies on the internet that are working successfully. Also, Binatex is providing trading videos about the platform and trading strategies. You can educate yourself with Binatex.
After you made a forecast of the price movement you can choose the amount for your investment. It is starting at only 1$. On the order mask, you will the potential payout (in this example above 90%+ = $190 payout). Next to the investment amount you choose the expiry time (time horizon) of the trade. If the time is over the trade is closed automatically and you will know if you made a win or a loss.
Now invest in rising (call) or falling (put) prices with one click. Your order will be opened directly and you will see your strike price. The market is always moving. If the price is above or below your strike price (entry point) you will make your profit after the expiry time. The forecast of the market has to be correct to make the return of investment.
How to trade with Binatex:
- Make an analysis and forecast of the market
- Choose your investment amount
- Choose the expiry time of the trade (60 seconds up to 24 hours)
- Invest in rising or falling prices
- Wait till the option is finished
- Accept the win or loss of the trade
Should you open an account with Binatex?
Binatex is a legal company but it is not a regulated one. From our research, the broker is working on financial regulation in Europe and internationally. When the final regulation will come we do not know. Another sign of reliability is the sponsorship of Alex Volkov. In addition, we can see advertising spots of the company on some tv-shows.
You should try the broker by yourself. Because it is an unregulated broker we recommend doing a fast withdrawal of your profits. Moreover, you can start with a very small amount of money. From our experience, the broker is not cheating on its clients. For a good trading experience, you should verify your trading account which we discuss in the next section.
How to open your account:
It is very easy to open an account with Binatex. You just need your email address and you can start trading. Because it is an unregulated Binary Options broker you can start trading without verification of your account. We strongly recommend fulfilling the account profile correctly. The broker can require some personal documents after you deposited real money or want to make a withdrawal. But overall, there should be no problem for you to open an account. The broker is accepting traders from everywhere except the United States.
Open your account in a few steps:
- Open the account with just an email address or social media profile
- Start trading without verification
- Traders accepted from everywhere except the United States
- You get direct access to the platform and demo account with $10.000
Free demo account for beginners
If you are new to trading or the Binatex platform you should try the free demo account for trading. It is a practice account with virtual money. You can try out the platform for free and without any risk by using the demo account. If you made a loss it is possible to deposit virtual money on the demo account. It is an unlimited and free account for every trader. Just change with one click between real money and demo account trading.
Review of the deposit and withdrawal money methods:
As mentioned before you can start with a minimum deposit of only $10. In this section, we will review the payment methods and conditions for money transactions. Binatex offers more than 10 different payment methods for deposit and withdrawal. Sometimes the payment method is depending on your country of residence.
Traders can use credit cards, cryptocurrencies, and electronic wallets like Yandex, Webmoney, VLoad for their transactions. Surprisingly there are no fees for depositing and withdrawing money on the platform. The broker says that withdrawals are made within 24 hours on working days. The money is managed in European banks.
Overall, it is very easy to deposit funds on the Binatex platform. If you want you can accept a free bonus of up to 100%. Binatex always offers special bonus codes or events for the traders.
Facts about the Binatex payments:
- No fees for depositing and withdrawing money
- Credit Cards, cryptocurrencies, electronic wallets
- Free bonus
- Minimum deposit of $10
- Fast withdrawal
Support for traders:
There is multi-language support which is working 24 hours per week but sometimes the support is offline for some hours. There is phone, email, and chat support. In addition, the page is translated into more than 20 different languages.
The service is not at its best compared to other brokers. There are only a few educational videos and sometimes the support is working very slow. That is why we can not give Binatex a full star review.
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Conclusion of the review: Binatex can be a legit broker
Overall, Binatex is a typical offshore broker at the moment. There is no regulation that brings the advantage that you can trade without verification and open the trading account very fast. There are more than 50 different assets to trade by starting with only $10 or the free demo account.
Traders can profit from a high return of investment up to 90%+ and the free bonus program. From our experience, the platform works correctly but the broker could improve the platform by some features. Another advantage is that there are no hidden fees for traders.
Binatex is a legal company but there is no official regulation. So be careful with big investments we only tested the platform with a very small deposit which worked well for us.
Binatex offers to trade with small amounts of money for every trader but it is not the best platform. This platform is offline now. (2.5 / 5)